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you see this regarding eric cantor, who is giving a much-hyped speech regarding the deficit and towards a broader and more inclusive role they can play. he says mr. cantor can apply the existing gop policies. so that, i think at this point in time is a great question for the republican party at least right now. can their response to the 2012 election be to just change the tenor and temperature of their approach to politics rather than the actually policies. can they just stop primarying guys like dick luger without changing the approach to say, inequality. that is the message, changing your hope is different than changing your policies. it is great to have you both here, thank you for joining us. >> great to be here. >> molly, so can they? do they need to do more, need to sort of go back and look at policies or can you actually get pretty far just by changing the way your party acts in public? >> i think the answer is yes. they have to do both. and first of all the republicans find themselves in a situation that the democrats found themselves in maybe a decade ago, where they are on the
you see this regarding eric cantor, who is giving a much-hyped speech regarding the deficit and towards a broader and more inclusive role they can play. he says mr. cantor can apply the existing gop policies. so that, i think at this point in time is a great question for the republican party at least right now. can their response to the 2012 election be to just change the tenor and temperature of their approach to politics rather than the actually policies. can they just stop primarying guys...
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Feb 5, 2013
02/13
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jobs is the thing that will really reduce the deficit. more taxpayers is going to result in the lower deficit than already this year. if we look at the last year we've seen the deficit go down because you've seen a little bit of success in the job market. not enough, but you have seen us reducing that deficit. that's really what the balancing act is all about. i would think that any fair-minded member of congress would want to see us balance and not just ask to solve the deficit crisis by forcing it all on the shoulders of people who defend upon important government programs. >> john: it seems inspiring that you're trying to sneak sanity into the budget debate. i commend you for it. you were there when the president laid out his gun control proposals. >> yes. >> are these campaign-style events the best way for him to drum up support for this issue? >> yes, and the reason why i think so, the american public supports common-sense gun-violence prevention. we support universal background checks closing the gun show loopholes. we support banni
jobs is the thing that will really reduce the deficit. more taxpayers is going to result in the lower deficit than already this year. if we look at the last year we've seen the deficit go down because you've seen a little bit of success in the job market. not enough, but you have seen us reducing that deficit. that's really what the balancing act is all about. i would think that any fair-minded member of congress would want to see us balance and not just ask to solve the deficit crisis by...
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Feb 5, 2013
02/13
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inside the beltway, the media keeps pushing the president on debt and deficits. i'd like to know also, i don't think of the fundamental issues confronting this country. but on the gun issue, why wasn't there a single question about the 15-year-old chicago girl, hadiya pendleton, who marched in the parade in the inauguration and was gunned down, the 42nd victim of gun violence in chicago in january. that might be relevant to the issue of how do you stop trafficking of illegal weapon, and relevant to the actual policy debates under way in this country. >> richard, why does inside the beltway media have a propensity to focus on things that people don't care about? >> look, i've been part of that press corps. i was there in the time in the run-up to the war in iraq. but as a pack, as a pack mentality, this is a game. look, the war in iraq was serious. don't get me wrong. but we're talking about kids in america who were killed and how to respond to that. and so, you know, the disjoint between this photo, what the president does in his leisure time, whether it's real o
inside the beltway, the media keeps pushing the president on debt and deficits. i'd like to know also, i don't think of the fundamental issues confronting this country. but on the gun issue, why wasn't there a single question about the 15-year-old chicago girl, hadiya pendleton, who marched in the parade in the inauguration and was gunned down, the 42nd victim of gun violence in chicago in january. that might be relevant to the issue of how do you stop trafficking of illegal weapon, and...
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Feb 8, 2013
02/13
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we talk about needing a balanced approach to cut this deficit, but why exactly do we need a balanced approach? it's not as if the economy distributes its games in a balanced way. if over the last ten or 15 years wages had gone up equally and profits had gone to the top 1% in an equal way, then you can say we need to rein in the deficit. instead, it seems like all of the games go to the top 1% but when it's time for pain, that we're going to spread across. that we need to give to social security, medicare, medicaid and we can't touch taxes. >> ryan grim and shira, have a good weekend. good luck. >> thank you. >>> snow is starting to fall across the northeast and forecasters say before it's done, this will be one for the record books. stephanie abrams is live for us in new york city's times square. good morning. >> reporter: chris, good morning to you. in times square, we have seen it all. nemo has been a triple threat, rain, sleet, and snow. laguardia and central park have been reporting all snow throughout the morning hours and it's not only new york. it goes into connecticut. and ne
we talk about needing a balanced approach to cut this deficit, but why exactly do we need a balanced approach? it's not as if the economy distributes its games in a balanced way. if over the last ten or 15 years wages had gone up equally and profits had gone to the top 1% in an equal way, then you can say we need to rein in the deficit. instead, it seems like all of the games go to the top 1% but when it's time for pain, that we're going to spread across. that we need to give to social...
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Feb 10, 2013
02/13
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we would replace that sequester with deficit reduction achieved over a longer time. >> you, in suburban maryland, represent a lot of people that would be directly affected if the sequester hits. do you think the administration is doing a good job of preparing federal workers and folks whose paychecks depend on what happens in the next few weeks for how it will work and how to plan their lives? >> we have been urging them to provide guidance to federal employees because as we get closer to the date there is more and more anxiety, understandably. they are trying to provide notice to employees about things that can be expected, but the problem is it affect each agency differently, so there is not one rule of thumb that will apply to every federal agency. part of the impact will depend on the extent to which employees make up most of the budget, as opposed to agencies that have more of a procurement budget or their budget is contracted out. i should emphasize that while it will hit federal employees and that is not good for anyone, that will hurt -- it will hurt around the country. let's ta
we would replace that sequester with deficit reduction achieved over a longer time. >> you, in suburban maryland, represent a lot of people that would be directly affected if the sequester hits. do you think the administration is doing a good job of preparing federal workers and folks whose paychecks depend on what happens in the next few weeks for how it will work and how to plan their lives? >> we have been urging them to provide guidance to federal employees because as we get...
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Feb 11, 2013
02/13
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a push at the hard things to be passed, immigration reform and necessary which is dealing with the deficit? that sounds logical as a pattern for the speech because they're the hot topics. >> when you're president you can't just deal with one issue and the economy is the top priority for most americans. the president will i think rightly address the issue and talk about the issue of gun violence, definitely talk about climate issue and the issue of immigration and he'll ask congress to do something. this is not the previous congress was not a very active congress and this congress doesn't appear to be shaping up to be much better and the president attempt to in the future act by executive order and make decisions in that way if congress is not willing to do anything and step up to the plate and i think that molly made an excellent point, too, about the messenger and the message of the republicans divided about because the real issue for the gop is not just the message. they can't agree on the messenger, the reason why rubio and paul both giving responses to the president's state of the unio
a push at the hard things to be passed, immigration reform and necessary which is dealing with the deficit? that sounds logical as a pattern for the speech because they're the hot topics. >> when you're president you can't just deal with one issue and the economy is the top priority for most americans. the president will i think rightly address the issue and talk about the issue of gun violence, definitely talk about climate issue and the issue of immigration and he'll ask congress to do...
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Feb 7, 2013
02/13
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you don't have a budget deficit we're worried about we're going to make you fund your pension plan 70 years in the future just to bankrupt you. >> they purposely tried to tank it. it's really sad. a lot of older people, rural americans who depend on medication, this will hurt them. the post office entire funding comes from postage. most people think it's taxpayer money. they had to sell off a lot of greatest properties they had the most beautiful post offices here in new york, and we can look at dianne feinstein's office husband for that. we'll look into it. >> micromanaged by congress but they don't get the taxpayer money from congress. it's a time bomb by the bush administration to make government smaller. >> john: exactly. >> and so everything that they want to see--yes--it comes to fruition. >> and all these people who sitting around all these year not attacking congress, congress attacks them. >> how does it make you feel? >> that was sent from you and it was anthrax. i regifted it. >> john: anyone who remembers the 80s and 90s postal workers are the people you do not want to ups
you don't have a budget deficit we're worried about we're going to make you fund your pension plan 70 years in the future just to bankrupt you. >> they purposely tried to tank it. it's really sad. a lot of older people, rural americans who depend on medication, this will hurt them. the post office entire funding comes from postage. most people think it's taxpayer money. they had to sell off a lot of greatest properties they had the most beautiful post offices here in new york, and we can...
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Feb 4, 2013
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can congress come up with a deficit reduction package that serves all masters? we go inside the numbers. >>> then in illinois, that could be the next state to approve marriage equality. a plan on the books for a valentine's day quote but is the land of lincoln really on board? . [ whistles ] three words dad, e-trade financial consultants. they'll hook you up with a solid plan. wa-- wa-- wait a minute; bobby? bobby! what are you doing man? i'm speed dating! [ male announcer ] get investing advice for your family at e-trade. [ bop ] [ bop ] [ bop ] you can do that all you want, i don't like v8 juice. [ male announcer ] how about v8 v-fusion. a full serving of vegetables, a full serving of fruit. but what you taste is the fruit. so even you... could've had a v8. i worked a patrol unit for 17 years in the city of baltimore. when i first started experiencing the pain, it's hard to describe because you have a numbness but yet you have the pain like thousands of needles sticking in your foot. it was progressively getting worse, and at that point, i knew i had to do som
can congress come up with a deficit reduction package that serves all masters? we go inside the numbers. >>> then in illinois, that could be the next state to approve marriage equality. a plan on the books for a valentine's day quote but is the land of lincoln really on board? . [ whistles ] three words dad, e-trade financial consultants. they'll hook you up with a solid plan. wa-- wa-- wait a minute; bobby? bobby! what are you doing man? i'm speed dating! [ male announcer ] get...
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Feb 12, 2013
02/13
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reducing the deficit is important to all americans. how specifically will he get tonight to talk to what cuts need to be made? >> i think he will make at least three points. we have as ugly as it has been, we have cut the deficit and the majority of that has been through spending cuts. there have been rev you ins on the top 1%. he will make clear we need to go further to get the deficit reduction that we need to do and he will make a call for bipartisanship and compromise. he will be clear we need to do smart entitlement reform and having sensible savings. he will stress it has to be done in a balanced way that means you could raise some revenues through closing loopholes as part of tax reform and try to suggest that this type of bipartisan compromise where you focus on both spending cuts and revenues together. if we follow that path we can avoid the harsh impacts on the economy and shut down and threats of default that we think will only happen if people take an ideological position and say we can't have a single penny and all deficit
reducing the deficit is important to all americans. how specifically will he get tonight to talk to what cuts need to be made? >> i think he will make at least three points. we have as ugly as it has been, we have cut the deficit and the majority of that has been through spending cuts. there have been rev you ins on the top 1%. he will make clear we need to go further to get the deficit reduction that we need to do and he will make a call for bipartisanship and compromise. he will be...
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Feb 6, 2013
02/13
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he wants to do some long-term spending reduction on the de deficit. republicans say don't trust him. i don't think republicans will be swayed by the cbo report. they have what they see as a mandate from voters, cut spending. >> let me bring in congressman john yarmuth. what would you like to see? >> i think some of the spending you mentioned could be very youthful. some of the farm subsidies that are unjustified. i'd like to consider a securities transaction pack, the so called wall street packs that can raise tens of billions of dollars. and we can do some cutting, but in that cbo report that you mentioned, it also said that the kind of austerity program which the sequester would represent would be damaging to the recovery, would hurt gdp, and, of course, that's in line with what most economists believe. i think we've got to be very careful when we just say we've got a cut, without regard to the impact of those cuts, both on the economy and on some very important programs. >> you know what the republicans' answer to that is. they say one of the conce
he wants to do some long-term spending reduction on the de deficit. republicans say don't trust him. i don't think republicans will be swayed by the cbo report. they have what they see as a mandate from voters, cut spending. >> let me bring in congressman john yarmuth. what would you like to see? >> i think some of the spending you mentioned could be very youthful. some of the farm subsidies that are unjustified. i'd like to consider a securities transaction pack, the so called wall...
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Feb 10, 2013
02/13
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you've been worried about the deficit. what do you say to this argument that trying to reduce the deficits in europe has been a disaster? it's slowed growth, slowed tax reeve news and increased the deficit? >> let me just say i am not in favor of reducing the deficit now. the short term i am not in favor of reducing the deficit. but i do think there have to be some longer-term plans that give the financial markets some degree of confidence that we're not just going to blow apart. i think this is something on the longer term which is what bowles-simpson was all about, something which i favored totally. so i think that was a combination of including longer-term control over some of our big expenditures, particularly in health care. and that is something we have to do. i think the president could get some things if, in fact, he addressed some of these longer term issues but he walked away from that and there's no confidence that he really cares about it. >> let's talk about common -- noneconomic things. i would have thought y
you've been worried about the deficit. what do you say to this argument that trying to reduce the deficits in europe has been a disaster? it's slowed growth, slowed tax reeve news and increased the deficit? >> let me just say i am not in favor of reducing the deficit now. the short term i am not in favor of reducing the deficit. but i do think there have to be some longer-term plans that give the financial markets some degree of confidence that we're not just going to blow apart. i think...
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Feb 4, 2013
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americans are about to find out what happens when an entire political party demands deficit reduction at all costs because those costs will be enormous. that being an editorial. the economic impact of all of this, when we look at that, when does it really trump political fears that this is a real reality? >> it might never trump political fears. have you noticed politicians being so worried about preserving the economy the last couple years? we could hit, and it's worth saying we have not actually come to one of these cliffs or deadlines where we have gone over. we didn't shut down the government in february 2011, didn't breach the debt ceiling in august 2011, didn't go over the fiscal cliff for very long in january of 2012, and we very likely and at least could kick off the debt ceiling for a couple months so far, so so far we haven't actually gone over any of these, nor have we come to permanent solutions. either we'll have to come to permanent solution or eventually sometime, somewhere, we are going to have to go over one of these cliffs because there won't be another option. >> we
americans are about to find out what happens when an entire political party demands deficit reduction at all costs because those costs will be enormous. that being an editorial. the economic impact of all of this, when we look at that, when does it really trump political fears that this is a real reality? >> it might never trump political fears. have you noticed politicians being so worried about preserving the economy the last couple years? we could hit, and it's worth saying we have not...
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under current law the deficit will shrink in 2013. as an estimated $845 billion, the deficit, the first in five years below $1 trillion. >> the cbo projects deficits to decline from $845 billion to year to as low as 430 billion in 2015 but then 978 billion a year by 2023. >> in 2014 or 15 the deficit will come down. there's a tax increase we just passed. that combines to produce a smaller deficit. >> though the president has not submitted his budget, the cbo projects the next ten years u.s. debt will increase $10 trillion from a little more than 16 trillion-dollar now to more than $26 trillion in 2023. >> you can't raise enough tax to say pay for this problem. you won't grow fast enough to get rid of this problem. you ultimately have to deal with spending. >> after 2023, the debt begins to soar. >> after that it's going to grow and reach the trillion and go beyond the trillion. so at no point in the foreseeable future is the deficit going to come down to manageable level. >> noting repeatedly high debts are bad and dangerous as he put
under current law the deficit will shrink in 2013. as an estimated $845 billion, the deficit, the first in five years below $1 trillion. >> the cbo projects deficits to decline from $845 billion to year to as low as 430 billion in 2015 but then 978 billion a year by 2023. >> in 2014 or 15 the deficit will come down. there's a tax increase we just passed. that combines to produce a smaller deficit. >> though the president has not submitted his budget, the cbo projects the next...
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Feb 6, 2013
02/13
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we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year. that's compared to $1.1 trillion short fall. the outlook predicts the improvements will not last. it warns that an aging population will drive up retirement spending and rising interest rates will put the debt at unsustainable level it's current laws remain in place, debt by 2023 will equal 77% of gross domestic product. that is roughly double the 39% average seen over the past 40 years. >>> coming off the republicans' bruising defeat, eric cantor is looking to rebrand his party n a speech at a d.c. think tank, he moved away from his combative tone expressing a need to work on issues with president obama impor
we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year....
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the symbolic vote he detail how he would cut the deficit to avoid the automatic spending cuts next month. >> mr. president, you missed the deadline again. let's see your plan. let's show it to the american people and have the discussion about the proper way to manage down this debt and deficit. >> reporter: without a budget deal on march 1st so-called sequestration will force reductions in military training, cutbacks in operations, and layoffs of civilian pentagon employees plus civilian defense contractors. >> it's an idiotic management nightmare to try to run a complex sophisticated, long-term program when you have short-term, massive cuts. >> reporter: deep cuts also loom in social services. outgoing defense secretary panetta slammed democrats and republicans for their game of chicken. >> let's see how bad it can get in order to have the other party blink. >> reporter: some senate republicans today said push the deadline back seven months. but house speaker john boehner said in effect he will not blink. >> at some point, washington has to deal with its spending problem. i've watched t
the symbolic vote he detail how he would cut the deficit to avoid the automatic spending cuts next month. >> mr. president, you missed the deadline again. let's see your plan. let's show it to the american people and have the discussion about the proper way to manage down this debt and deficit. >> reporter: without a budget deal on march 1st so-called sequestration will force reductions in military training, cutbacks in operations, and layoffs of civilian pentagon employees plus...
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Feb 4, 2013
02/13
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the deficit problem is the problem for later in this decade. the jobs problem is the problem today. and this talk of a contracti contractionary fiscal position. it is hurting the economy. >> he wantive harris? >> in the end, we've got to get our deficit under control while we grow the private sector economy. we can't do it through new taxation. you can't tax your way out of this mess. that's the problem. the president has decided that's the approach he's going to take. the republicans have a different approach. we believe we have to rein in entitlement spending, the budgets up until now. again across the aisle and on the other side, they're unwilling to handle. >> we'll leave it there. thank you. >> let you both get back to work. thanks for joining us. >> thank you. >> appreciate your time. thanks very much. isn't it nice to know in two weeks you haven't missed anything? >> this sounds familiar. >> 40 minutes before the closing bell sounds. dow down 103 points. >>> google getting downgraded after a record high on friday when we allegedly hit 14,000. why did that happen? and are you
the deficit problem is the problem for later in this decade. the jobs problem is the problem today. and this talk of a contracti contractionary fiscal position. it is hurting the economy. >> he wantive harris? >> in the end, we've got to get our deficit under control while we grow the private sector economy. we can't do it through new taxation. you can't tax your way out of this mess. that's the problem. the president has decided that's the approach he's going to take. the...
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Feb 11, 2013
02/13
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[applause] if you look at what is happening here, it is true that the deficit are going to be below $1 trillion for the first time in several years. and it is true that the new revenues raised in spending that you did not do. it is true that the economy is beginning to grow again. but this is almost like the reverse of what we did in 1993. that is, i was prickly well aware if we raise taxes and cut spending, it could have a dragging effect in the economy. but not nearly as much as spending 40% of the budget paying interest on the debt. not nearly as much as having low growth. at nearly as much as having interest rates that were too high. so our gamble was that the explosive the fact of lowering interest rates, with a booming bond market and having more disposable income over a 5 =-10 year period would more than offset putting the hammer down by raising more money and cutting spending. it turned out to be a good gamble, but it made sense. it will make sense here again. but timing is everything. and so, i think he should have a budget that does not defy our arithmetic but also, and doesn
[applause] if you look at what is happening here, it is true that the deficit are going to be below $1 trillion for the first time in several years. and it is true that the new revenues raised in spending that you did not do. it is true that the economy is beginning to grow again. but this is almost like the reverse of what we did in 1993. that is, i was prickly well aware if we raise taxes and cut spending, it could have a dragging effect in the economy. but not nearly as much as spending 40%...
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Feb 8, 2013
02/13
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. >> i want to listen to something that john boehner said about how we have handled deficits over the years. let's listen to this. >> at some point, washington has to deal with its spending problem. now, i've watched them kick this can down the road 22 years that i've been here. i've had enough of it. it's time to act. >> that is -- i'm trying to think of a word other than lie. kick the can down the road? we had a big tax increase in 1993 with president clinton along with big spending cuts. >> right. >> it was a deficit reduction package that worked. they continued to do more deficit reducing package with newt gingrich on the spending side throughout the decade and we're on our way to a surplus. >> that's right. i've been calling it the undecade, the 1990s has been written out of their record. they would have you believe that it was always the way it was under reagan and then bush. >> why don't they just say, leave off the clinton tax increase, which helped a lot, and just claim they did it for spending cuts? >> because if they do, if they admit that something nice happened in the '90
. >> i want to listen to something that john boehner said about how we have handled deficits over the years. let's listen to this. >> at some point, washington has to deal with its spending problem. now, i've watched them kick this can down the road 22 years that i've been here. i've had enough of it. it's time to act. >> that is -- i'm trying to think of a word other than lie. kick the can down the road? we had a big tax increase in 1993 with president clinton along with big...
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Feb 12, 2013
02/13
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. >> goals in manufacturing, energy, education, national security and the deficit. real achievable plans that will lead to new jobs. >> top republicans including senator mcconnell already critical of the speech. >> i strongly suspect the white house will subject us to yet another campaign blitz. frankly, i could write the scripts myself and will be told the president's hands are tied by the sequester he proposed, signed and refuses to get rid of. >> we learned the president will make a major announcement of afghanistan announcing that 34,000 u.s. troops will return home from the region exactly one year from today. that's about half the troops there now. joining us now, maryland congressman chris van hollen, ranking member of the house budget committee. thank you for joining us. >> great to be with you, tamron. >> first, what are the expectations for the president tonight? >> well, i think as you said the president's going to lay out his plan for xik growth, for job creation but focusing on the fact it is not good enough just to have economic growth for the folks alr
. >> goals in manufacturing, energy, education, national security and the deficit. real achievable plans that will lead to new jobs. >> top republicans including senator mcconnell already critical of the speech. >> i strongly suspect the white house will subject us to yet another campaign blitz. frankly, i could write the scripts myself and will be told the president's hands are tied by the sequester he proposed, signed and refuses to get rid of. >> we learned the...
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now, at some point we're going to have to begin reducing the deficit. when we do, the economy will be weak. that will make the deficit challenge even greater. it's a negative feedback loop. right now when all these democrats say, look, mr. market is saying go ahead, borrow, we don't square. that is not a really market. that's the echols building. that's one side of washington telling the other side, don't worry, i'm buying all the bonds. now, if you think this kind of ponzi finance is anything to do with capitalism or free markets or anything to do with sustainability, then you've read an economic textbook that didn't even exist in 1995. dagen: david, thank you so much. david stockman, i know it's like facelift. like the first few you get it kind of hides your age, but eventually you're going to look, well, 8 6. connell: hasn't thought of it that way, but as always, you bring up a unique perspective. dagen: what? i'm really 75. connell: well, you look great. the ftc is pressing for new guidelines on the mobile industry. dagen: and if your worried you --
now, at some point we're going to have to begin reducing the deficit. when we do, the economy will be weak. that will make the deficit challenge even greater. it's a negative feedback loop. right now when all these democrats say, look, mr. market is saying go ahead, borrow, we don't square. that is not a really market. that's the echols building. that's one side of washington telling the other side, don't worry, i'm buying all the bonds. now, if you think this kind of ponzi finance is anything...
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Feb 12, 2013
02/13
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how do you square pro growth with cuts deficits now? that is the problem that republicans couldn't get their arms around in the last election, let's see if rubio can do it now. >> and let's see if he can come up with something new. >> big government, i think we've heard it. >>> coming up, the latest on the roadblocks against the violence against women act. karen finney will join us. keep tweeting your answers, coming up. why turbo? trust us. it's just better to be in front. the sonata turbo. from hyundai. did you know not all fiber is the same? citrucel is different- it's the only fiber for regularity that won't cause excess gas. it's gentle and clinically proven to help restore and maintain regularity. look for citrucel today. it's gentle and clinically pryou know it can be hard to lbreathe, and how that feels.e, copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment
how do you square pro growth with cuts deficits now? that is the problem that republicans couldn't get their arms around in the last election, let's see if rubio can do it now. >> and let's see if he can come up with something new. >> big government, i think we've heard it. >>> coming up, the latest on the roadblocks against the violence against women act. karen finney will join us. keep tweeting your answers, coming up. why turbo? trust us. it's just better to be in front....
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Feb 7, 2013
02/13
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MSNBC
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and it's estimated to reduce the deficit by $3.3 trillion. remember, we're trying to hit $4 trillion. so we're getting closer. the plan ends tax loopholes for yachts and for jets. it reduces the corporate meal and entertainment deduction to 25%. you can't write off the whole dinner anymore. it ends fossil fuel subsidies for oil companies that are raking in massive profits. exxonmobil, you know what their profit was? $44 billion in 2012. the last thing they need right now is your tax dollars as subsidy. the balancing act also closes other pointless loopholes the rich take advantage of. we should point out mitt romney ran on a similar tax plan. his former running mate paul ryan should love the balancing act because it reduces the deficit. everyone inside the beltway considers mr. ryan just a very serious person. but here is how paul ryan wants to reduce the deficit, with nothing but cuts. and here is the balanced approach from the progressive caucus. you know, when we need budget advice in the future, i think we should kind of push paul ryan of
and it's estimated to reduce the deficit by $3.3 trillion. remember, we're trying to hit $4 trillion. so we're getting closer. the plan ends tax loopholes for yachts and for jets. it reduces the corporate meal and entertainment deduction to 25%. you can't write off the whole dinner anymore. it ends fossil fuel subsidies for oil companies that are raking in massive profits. exxonmobil, you know what their profit was? $44 billion in 2012. the last thing they need right now is your tax dollars as...
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Feb 12, 2013
02/13
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deficits. i think we know he's going say we're not going to increase deficits. this won't cost the american people a dime. how do you do big programs without costing anything? doing that either suggests you're going to make serious trade-offs cut somewhere else to spend here or do small symbolic stuff. >> woodruff: the white house is already putting out some advanced text saying that these are things... some of the things he wants to do are not going to cost the taxpayers anything. both of you have mentioned the inaugural address. we hear from the white house that the president is not just talking to the members of congress in the chamber. he's talking to millions of americans who have everything at stake. >> you could say to some degree the audience is the 48% who did not vote for him. in the sense that what he says to them. but really the true sense tonight is the people who are listening are those who support, admire and identify with the president. that's the case with every state of the un
deficits. i think we know he's going say we're not going to increase deficits. this won't cost the american people a dime. how do you do big programs without costing anything? doing that either suggests you're going to make serious trade-offs cut somewhere else to spend here or do small symbolic stuff. >> woodruff: the white house is already putting out some advanced text saying that these are things... some of the things he wants to do are not going to cost the taxpayers anything. both...
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Feb 6, 2013
02/13
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for instance, deficits are decreasing. however, all i ever hear from republicans is the president needs to get serious. from speaker john boehner. that's the best impersonation i can give you. >> it's not bad. >> wasn't very good, nothing personal. >> but dana, is that it? >> well, that was a little raspy, your john boehner. but i think you've captured the sentiment, more or less correctly. and yes, the cbo report shows that the deficit is shrinking. but it is also showing the efforts to shrink the deficit have taken away from growth and the economy. you can't have one of these things without the other. now, i think there's a fallacy in the first question you posed to jared. that is that republicans would be very upset if there were a double-dip recession in a political sense as rush limbaugh and others have stated, they may be in a stronger position if the economy goes back into recession. then the president and his majority party will be less powerful. so they actually have a political incentive. >> hang on a second, dan
for instance, deficits are decreasing. however, all i ever hear from republicans is the president needs to get serious. from speaker john boehner. that's the best impersonation i can give you. >> it's not bad. >> wasn't very good, nothing personal. >> but dana, is that it? >> well, that was a little raspy, your john boehner. but i think you've captured the sentiment, more or less correctly. and yes, the cbo report shows that the deficit is shrinking. but it is also...
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Feb 7, 2013
02/13
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some of that can be used for deficit reduction. would be a lot more appealing than other taxes or cuts in entitlements, those are very difficult measures. >> a cost to carbon, and the one of those proposals, do you think that happens during the second term of the obama administration? >> i hope it will. it is a long shot because of the opposition from some republicans. a secretary, secretary schulz, a secretary of state and economic adviser under nixon and reagan, he supported the idea of a tax. a lot of republicans said, let's tax carbon and use the tax money to reduce other taxes, like corporate taxes. let's do something to move the incentives away from adding more greenhouse gases into the atmosphere. >> a democratic caller. >> good morning, c-span. the morning. that last caller, i am thankful for guys like you. i am appreciative. unfortunately, the message we are trying to get across is that global warming, how it affects the jet streams and the weather and how that intern causes climate change. the knuckle draggers you were ju
some of that can be used for deficit reduction. would be a lot more appealing than other taxes or cuts in entitlements, those are very difficult measures. >> a cost to carbon, and the one of those proposals, do you think that happens during the second term of the obama administration? >> i hope it will. it is a long shot because of the opposition from some republicans. a secretary, secretary schulz, a secretary of state and economic adviser under nixon and reagan, he supported the...